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Real Estate Forum on Lic Housing Finance

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Q: Homebuyers held a protest at Orbit Corporation's project in Andheri at the project site against auction of the property.
Latest Answer: Hey Guys, Do you know that the LIC Housing Finance took possession of the property in December 2013 after the developer defaulted on loan of 96 crore, out of total dues of 250 crore on the loan taken in 2008.
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Q: To recover its dues, LIC Housing Finance has blocked realty developer Orbit Corporation's premium residential project in Mumbai
Latest Answer: True Manis, As per the news, LIC Housing Finance had taken possession of the property following the developer defaulting on loans worth Rs 96 crore out of total due of Rs 250 crore. They will auction the property for defaults of loans.
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Latest Answer: A sharp spike in bad loans in recent years has made banks careful of lending to real estate projects, boosting builders to arrange the bulk of loans from finance companies and private equity funds.
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